In Smart Pricing, Wharton professors and renowned pricing experts Jagmohan Raju and Z. John Zhang draw on examples from high tech to low tech, from consumer markets to business markets, and from the U.S. to abroad, to tell the stories of how innovative pricing strategies can help companies create and capture value as well as customers. They teach the pricing principles behind those innovative ideas and practices.
Smart Pricing introduces to marketing and product executives, along with corporate strategists, many innovative approaches to pricing, as well as the research and insights that went into their creation. Filled with illustrative examples from the business world, listeners will discover restaurants where customers set the price...learn how Google and other high-tech firms have used pricing to remake whole industries...and understand how executives in China successfully start and fight price wars to conquer new markets.
Smart Pricing goes well beyond familiar approaches like cost-plus, buyer-based pricing, or competition-based pricing, and puts a wide variety of pricing mechanisms at your disposal. This book helps you understand them, choose them, and use them to win.
©2010 Jagmohan Raju (P)2010 Audible, Inc.
"In this smart and excellent book, Jagmohan Raju and John Zhang have packed many years of experience and expertise to help managers navigate through the complex environment that they face today.” (Sunil Gupta, Edward W. Carter Professor of Business and Head of the Marketing Department, Harvard Business School)
This book is book of simple ideas. It makes you think about multiple pricing strategies. It also explains why some pricing methods work and why others don't.
I am not a pricing expert, but having worked with many businesses, I now see how wrong some of their pricing strategies are. Who would believe that a price war can be good for your long term business, or increasing your prices could make your goods more valuable and your business more profitable for the long term. It happens all the time and your business might just benefit.
This book is ideal for people who want to learn about pricing and/or get you to think about how your product should be priced.
This was a great buy for me who knew nothing about pricing. But this book confirmed to me some of my gut feelings I had about pricing and gave me more confidence in how to use pricing in the future.
5 out of 5
This book broadened my thinking about pricing strategies by dedicated one chapter to an alternative pricing method (alternative to cost plus pricing). One of the authors' key points is that pricing does not arise from the "invisible hand of the market" but is a deliberate choice on the part of a business owner. They also point out that a good pricing strategy is aligned with the type of customer you are serving.The book is really a set of separate chapters dedicated to nine pricing methods (e.g., freemium, pay as you wish, premium pricing, price wars), and doesn't really have a summary or culminating insight other than the two mentioned previously. This book is not a "how to" so it won't help you devise a pricing strategy for your business; rather, it will help you "think outside the box" in terms of what is possible and what other people have made work for their businesses. The narrator is pretty good and engaging.
“Logic will get you from A to B. Imagination will take you everywhere.” - Albert Einstein
The book is truly magnificent but if you are trying to find something here that would fit to your own business (like I was doing) you might get a bit frustrated. Most of the pricing strategies apply only to a narrow niche
I can't say enough about how valuable this book is from a content perspective. However, the narration really needs some work. The narrator's voice is great, but he reads it in a halting robotic fashion. Many times there are long pauses mid-sentence that makes one believe the sentence or thought is complete. This really gets in the way of the true meaning of the sentence. I'm not referring to comma or semi-colon pauses, but pauses that occur at other times. I am not trying to be too critical, but it definitely takes away from the listening experience. However, the audiobook is still worth buying despite the narration issues.
For people looking to broaden their horizons about pricing this book will certainly introduce you to several aspects of pricing that are not commonly understood. I found it a bit disjointed in skipping from one topic to another but all good content.
Highly recommend this easy to read book. It is an introduction to the pros and cons of many different and unique pricing models. They go into price wars and focus on more than just the one item that is on sale. All of them together give insights into ways to price and market based on price for your own service or product.
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